Latest news
Latest news
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
Second large office CMBS in quick succession after The Soloviev Group sold a $1.7bn New York office CMBS last week
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Panelists hotly debated principal reduction at the ABS East Alternative Loan Modification Programs for Distressed and Non-Performing Loans panel, with some saying reducing mortgages is the path to borrower success, and others countering that the mod makes for moral hazard and a hit for investors to absorb.
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Growth of the commercial mortgage-backed securities market was flat in the third quarter with little change though 2012, despite 18 months of recovery, according to Real Capital Analytics.
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Splitting the government-sponsored enterprises into old and new companies, with the “old cos” holding legacy mortgage loans backed by a government guarantee and the “new cos” originating loans without government backing, is the first step to giving the mortgage-backed securities market a fresh start, said James Lockhart, vice chairman at WL Ross & Co., in Monday’s keynote address at ABS East. -
Credit Suisse is planning on closing its commercial mortgage-backed securities unit.
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ING Groep is considering entry into the European mortgage-backed securities market for the first time, according to Martin Nijboer, head of long-term funding at the Dutch bank.
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Primary issuance of asset-backed securities in Europe could be set to take a breather until November, following the recent spike in new issue trades in the past two weeks.
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Moody’s Investors Service said today it is reviewing 82 tranches of 27 U.K. non-conforming residential mortgage-backed securities deals, as well as two tranches of one consumer asset-backed deal, due to their connections to the Skipton Building Society.
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ING Groep, the largest Dutch financial services company, is eyeing a debut residential mortgage-backed security offering for the European market in 2012.
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Plans to implement a note restructuring in the EUR5.8 billion ($8 billion) German Residential Asset Note Distributor (GRAND) commercial mortgage securitization have been pushed back until early next year following a meeting with the issuer and bondholders.
